NEEDHAM, MA — May 17, 2022 — First American Insurance Underwriters (FAIU) held its 19th Annual Success Summit on May 11, 2022, at the Pine Brook Country Club in Weston, MA. The event was well-attended with over 100 registered participants and 16 of the top insurance carriers in the U.S.
The half-day event included several moderated sessions: Underwriting, Advanced Market Concepts, and Carrier Spotlights. Companies participating in the Success Summit included AIG, Allianz, Global Atlantic Financial Group, John Hancock, Legal & General America, Lincoln Financial Group, MassMutual, Mutual of Omaha, National Life Group, Nationwide, Pacific Life Insurance Company, Principal Financial Group, Protective Life, Prudential, SBLI, and Symetra. The registered participants also enjoyed networking opportunities throughout the day.
FAIU President Ken Shapiro praised the event as “a tremendous opportunity to bring insurance advisors together with top carriers to advance their knowledge of insurance solutions that will elevate their practices and their stature in front of their clients.”
We will be requiring eApp or Drop Ticket℠ application submissions for Advantage Elite Select term policies $1.5 million and below starting May 2, 2022. This will ensure that your applications are submitted in good order without the back and forth, so your clients get insured fast and you get the service you deserve. Applicants using our digital applications expressed a 41% higher satisfaction rate compared to the traditional paper application submission. And when paired with our digital Part 2 and WriteFit Underwriting™ your clients can expect a fast underwriting offer. Read more.
There’s no escaping the fact that the pandemic changes everything it touches and, incredibly, it touches everything. But that’s not all. A recent McKinsey report expressed it this way, “COVID-19 is changing how consumers behave across every aspect of their lives.” They are preoccupied with health concerns, the future, retirement, and their overall financial security. It’s obvious that these are core financial planning issues.
The average top marginal tax rate in the 70’s was 70.17%; in the 80’s 48.4%; 90’s 36.72%; 2000’s 37.44%, and 2010-2020 38.4%. While the current 38.4% sure looks to be on the low side, we have just spent $2.3 trillion on COVID-19 (that is trillion with 12 zeros!).